FedEx (NYSE:FDX) PT Lowered to $318.00

FedEx (NYSE:FDX) had its price objective reduced by equities research analysts at Evercore ISI from $335.00 to $318.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the shipping service provider’s stock. Evercore ISI’s target price would suggest a potential upside of 5.86% from the stock’s previous close.

Several other analysts have also recently weighed in on FDX. Stephens reissued an “overweight” rating and issued a $325.00 price target on shares of FedEx in a research note on Wednesday, June 26th. Stifel Nicolaus reissued a “buy” rating and set a $327.00 target price (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday. Finally, JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $310.92.

FedEx Stock Performance

NYSE FDX opened at $300.39 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock’s fifty day moving average is $293.32 and its two-hundred day moving average is $274.80. The firm has a market capitalization of $73.92 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that FedEx will post 20.82 earnings per share for the current year.

Insider Buying and Selling at FedEx

In related news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last quarter. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth approximately $25,000. Fortis Group Advisors LLC raised its stake in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter valued at $39,000. Abound Wealth Management boosted its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. Finally, Sachetta LLC grew its holdings in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.